GTCR has jointly led a $200 million investment in Sophos through a second-lien term loan raised in connection with the refinancing of the cybersecurity company’s existing $2.45 billion first-lien term loan.
Sophos is a portfolio company of Thoma Bravo and provides cybersecurity software and services to approximately 625,000 customers worldwide, primarily small and medium-sized businesses and mid-market organizations.
The company’s offerings include endpoint and network protection as well as managed detection and response services that combine software with outsourced security expertise to monitor customer technology environments.
Sophos expanded its enterprise cybersecurity business in February 2025 through its acquisition of Secureworks, adding an enterprise-focused managed detection and response operation to its platform.
The financing follows the close of GTCR’s inaugural Capital Solutions Fund, which provides customized minority structured investments to established businesses. Other recent Capital Solutions investments include TELUS Health and Solmetex.
GTCR said its familiarity with the cybersecurity sector and ongoing relationship with Thoma Bravo enabled the firm to move quickly on Sophos’ financing requirements. GTCR manages approximately $45 billion in equity capital and has invested more than $35 billion across over 300 companies since its founding in 1980.
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“We are excited to partner with Thoma Bravo and the Sophos management team. Our ongoing dialogue with Thoma Bravo and familiarity with the sector enabled us to move quickly to address Sophos’ financing needs. This transaction reflects our ability to work alongside existing owners and management to structure bespoke capital solutions.”
Jason Prager, Managing Director At GTCR
“GTCR brought a practical, collaborative approach to Sophos’ refinancing. Their understanding of the sector and ability to respond quickly as the process evolved made them a constructive partner, and we appreciate their support for Sophos.”
Erwin Mock, Managing Director And Head Of Capital Markets At Thoma Bravo
